What are the benefits of IDP?
Modern IDP solutions are a game-changer (even when compared to legacy IDP offerings) for any enterprise with document-heavy processes. It brings tangible business benefits like:
Better efficiency and accuracy
IDP minimizes the human errors commonly associated with manual processing by reliably capturing data at high accuracy. Automating document-centric tasks also streamlines workflows and reduces business cycle times, enhancing enterprise-wide efficiency.
Time and cost savings
Optimizing routine back-office processes by deploying AI-based extraction techniques can save businesses 30-40% of the hours and 20% of the operational costs typically spent on document processing.
Faster, powerful decision-making
Harness valuable data-driven insights to support rapid, strategic business decisions that capitalize on emerging trends or gain a competitive advantage.
Improved employee productivity
As IDP relieves your employees from manual input work, they can now focus on higher-value strategic initiatives instead.
Enhanced customer service
IDP empowers your team to deliver exceptional customer experiences by drastically reducing response times to queries. The extracted data also provides a personalized approach to addressing individual customer needs.
Compliance and risk management
IDP’s automated document classification capabilities strengthen compliance and data governance efforts by ensuring that records are managed and retained according to the appropriate regulatory policies.
Data security
Safeguard confidential data by reducing human touch and with robust built-in security measures like data encryption and access controls that adhere to global data privacy and security standards.
A configurable, scalable platform
IDP solutions can vary in capabilities, but ideal platforms are versatile (rather than fixed, hard-wired, pro-code solutions) and can be customized to meet a wide range of industry applications. Its scalable architecture also accommodates increasing volumes of documents without compromising performance.
Seamless integration
Designed to seamlessly integrate with existing enterprise applications such as ERP and CRM platforms, IDP bridges content silos to support effective cross-functional collaboration.
Read more: What can you do with Hyland IDP?